Dangote Refinery IPO: GTBank Deploys Digital And Branch Channels As ₦2.15trn ‘People’s IPO’ Sparks Retail Rush

LAGOS, Nigeria — Guaranty Trust Bank (GTBank) has activated its extensive nationwide branch network and digital platforms to process subscriptions for the historic ₦2.15 trillion Dangote Petroleum Refinery & Petrochemicals Initial Public Offering (IPO), which officially opened to the public on Monday.

The offer, which represents Africa’s largest-ever share sale, allows retail investors to buy into the 700,000 barrel-per-day refinery at a fixed price of ₦525.00 per share, with an entry point as low as ₦5,250 for 10 shares.

As a designated Receiving Bank for the landmark transaction, GTBank issued a notice to its millions of customers detailing a seamless subscription process. Investors can participate by visiting the bank’s official portal or by walking into any GTBank location nationwide before the closing date on October 13, 2026.

Market analysts expect commercial banks like GTBank to handle a massive volume of the retail traffic, especially following warnings from the Securities and Exchange Commission (SEC) urging the public to use only verified financial institutions to avoid sophisticated phishing scams.

Funds raised from the 4.1 billion shares on offer are earmarked to bankroll the refinery’s ambitious phase-two expansion, aimed at doubling its capacity to 1.4 million barrels per day by 2029.